14 DAY TRIAL // Today, April 26, Apple has announced its financial results for the second quarter of its fiscal 2016 year, which ended exactly one month ago, on March 26, with the company experiencing a decline due to poor iPhone sales.
A few minutes ago, the Cupertino company sent a press release to the media, to inform us that it posted a quarterly revenue of $50.6 billion and quarterly net income of $10.5 billion, or $1.90 per diluted share. The numbers appear to be much lower than those posted in the year-ago quarter.
For example, the company posted last year a quarterly revenue of $58 billion and a quarterly net income of $13.6 billion, or $2.33 per diluted share. It thus looks like the iPhone sales have indeed declined in the last few months, most probably because of the iPhone SE device, which has not attracted many buyers globally.
"Our team executed extremely well in the face of strong macroeconomic headwinds," said Tim Cook, Apple’s CEO. "We are very happy with the continued strong growth in revenue from Services, thanks to the incredible strength of the Apple ecosystem and our growing base of over one billion active devices."
iPad and Mac sales also saw a bump from last year
Continuing, Apple also announced today that the gross margin was 39.4 percent, which is a bit lower than that from last year's quarter, of 40.8 percent. They sold 51.2 million iPhones in Q2 2016, which translates into a 16 percent decline from the 61 million iPhones sold one year ago. And it looks like 67 percent of the quarter’s revenue comes from international sales.
"We generated strong operating cash flow of $11.6 billion and returned $10 billion to shareholders through our capital return program during the March quarter," said Luca Maestri, Apple’s CFO. "Thanks to the strength of our business results, we are happy to be announcing today a further increase of the program to $250 billion."
In the same press release, which we've attached at the end of the article for reference, Apple announced that the iPad sales continued to collapse in Q2 2016, as they sold only 10.3 million iPads, which means a decline of 19% when compared to the 12.6 million iPads sold a year ago. Mac sales also saw a decline, as Apple managed to sell only 4.03 million computers in Q2 2016. Apple stock falls under $100, down by more than 8% in after-hours trading.
